"Dr. Doom" 209 review
Member since: October 17, 2018
99% of altcoins are scams, with the exception of a handful of legit projects, that are however 90% likely to fail as well. Looking for the few that are going to matter, is a continuous quest of finding a needle in a hay stack.
This started out as what was generally within the cryptocommunity perceived as a legitimate project, back in the day when it was still Vechain (VEN). In 2018 they launched their mainnet and switched their ERC20 token (VEN) for their mainnet coin Vechain Thor (VET) at a 1:100 ratio (this is good to know, bc on CMC only the VET history is visible, not the previous VEN history, conveniently). So far so good. But what people later criticized this project for was completely diverting from their initial focus of supply chain management into a "money grab" ICO platform (an Ethereum competitor). Also this project is so-called Proof of Authority, which means you need to acquire permission to become a validating node. And thus it seems more an almost completely centralized corporate blockchain. There was quite some FUD spread by Youtuber ChicoCrypto about this project, but like some others responded that seemed more a lot like conspiracy theory, however there were some shady practices exposed nevertheless. Youtuber SunnyDecree gave a reasonable take on the whole situation; some of the additional takeaways of some of the deceptive practices: - overhyping the so-called BMW deal - Announcing a MacDonalds that deal, that later was denied by MacDonalds. More from him (and also links to the ChicoCrypto FUD) in his review video: https://www.youtube.com/watch?v=nDTNJuoRQaE On the flip side, Vechain Permabull Youtuber Boxmining is still super bullish on this project, this video is his reaction on attending a Vechain summit recently: https://www.youtube.com/watch?v=bhJHAmw55dw. And it's obviously quite positive. Other potentially positive news is that Vechain's Founder had announced that over a period of 12 months it would buy back $24million worth of VET to take those out of circulation (token burn); that is about 10% of the marketcap currently. Token burns are often perceived positive for price direction, because a reduced supply with equal demand should theoretically raise the price. https://finance.yahoo.com/news/vechain-foundation-buy-back-25-124700520.html?.tsrc=fin-srch. A critical question might be asked: with what money is Vechain going to finance this buy back program, is that investors money or from revenue (does Vechain have revenue)? So what do I make of all this? Well, honestly in the early days I saw this project as relatively serious as potentially interesting as a supply chain management solution. Now that is a completely permissioned corporate blockchain, I am actually not so sure where the value for VET holders should come from. If that is from ICO's, then I am afraid that ship has more or less already sailed. I am very allergic for the hyping of partnerships that turn sour quickly, with a high suspicion of trying to pump the coin price. So I do totally not think this project is anywhere near a scam in the purest meaning of the word and that they are (or at least up until now have been) actually building a real product, but I have lost a lot of confidence along the way to be totally honest.review Vechain
This coin is around already a long time. It's a Russian creation and they also have a DEX powered by WAVES. It is a similar platform as Ethereum, just cheaper and more userfriendly. You can launch your own token very easily even within the mobile app for the price of 1 WAVES. I have no reason to be suspicious about this project and it is one of the more reputable ones even though it's flying under the radar most of the time. Very accessible and easy to use platform and wallet.review Waves
This is a stable coin against US dollars with its reserves in FDIC regulated, US banks. The company is fully regulated and is also the company that launched itBit exchange. PAX is launched in 2018 along with a bunch of competitor stable coins. It is an ERC20 token, so security lies completely with the security of Ethereum. Whether or not this token is censorship resistant or confiscatable: that depends entirely on the whims of US regulators. But in terms of safety of the reserve funds and legitimacy of the team, 100% confidence. Even a senator is part of the board.review Paxos Standard
By the looks of it, this project should not be taken too seriously, they are trying to sell a lot of hopium but the paper describes very little on how exactly those goals are going to be achieved. THe token is not at all needed only then to facilitate funding. ERC20 tokens are as easy as copy paste, yet in the whitepaper they call it as if they "designed" the token to be something special, no designing involved. THey are selling a worthless token based on vague promises and claims that are going to be immensely hard to achieve. Hot air no substance.review Koi
Facebook's long awaited "cryptocurrency". I am as good as 100% sure that this coin will not exit scam, so simply for that matter it can't really get the lowest confidence score. Besides that it is supposed to be backed by a basket of fiat currencies, which should keep the value of the coin relatively stable; for sure much more stable than many of the world's unreliable fiat currencies. Because essentially it is a stablecoin, no speculation on rising value (like other crypto) can be expected, neither substantial losses, because it should keep its exchangeable value. The project however is NOT a blockchain (we can conclude that from statements from the whitepaper) and eventhough it is much more decentralized than any individual fintech company, it is still a centralized coin that will be subject to regulatory restrictions and censorship. It will also not be permissionless, and eventhough there is the claim of intention for transitioning to permissionless, no solution is given that we could rely on. I will not trust this coin for one single bit and stay absolutely away from it whenever it's released in 2020, because I do not trust facebook with personal data and privacy (especially towards governments), let alone with financial transactions. Facebook has repeatedly demonstrated it cannot be trusted on its promises. Furthermore a multitude of companies that are among the founding members, with facebook leading the pack on that front as well, are known to be very trigger happy on censoring speech, deplatforming individuals and even financial censorship. No doubt the validators will not shy away. Financial censorship, full scope financial surveillance and confiscation by governments will also be very easy, as it would take only a phone call to the Libra Association. If Libra can overcome the many regulatory hurdles and pushback (which will probably result in dumbing down even more of the blockchain/cryptocurrency properties and be more like traditional fiat systems), it might eventually become a force to be reckoned with nevertheless because of user convenience, access to Facebook's userbase and the Sillicon Valley's art of disruption and putting the right incentives in place for network adoption. And I am sure in that case it might very well be a tool for the billions of unbanked people to finally get ahead. Users should nevertheless be aware of the (above mentioned) risks that are associated with Libra as well. Just because Facebook is trying to sell this as a blockchain based cryptocurrency, which is supposed to have open access to anyone and be very privacy focused, I am inclined to believe based on what I am reading, that those statements will turn out to be rather deceptive.review Libra
Exchange token for the Dutch hybrid decentralized exchange Blockport. The exchange aimed to be the Coinbase of DEX's. Key feature was that users keep control of their own private keys. Unfortunately the exchange had to go into stealth development mode, due to lack of funds and users to continue operations, allegedly because the CEO didn't secure part of the Ether from the ICO funds into fiat, which made them loose a lot of the value of their funding due to bear market and crash of Ether value. The CEO gave the same advice to another ICO project of which he was adviser. Because the exchange closed shop, of course the price of the token tanked horribly. Currently there are whispers of the exchange preparing a re-launch after all. Personally I am reasonably confident that the team is acting in good faith, however there might be some competence concerns. If the exchange indeed relaunches, there might still be a token speculators' confidence issue that needs to be restored.review Blockport
Not to be confused with another project Spectre.ai, which is entirely different. Spectrecoin is a privacy coin project. They do have a registered foundation and developer team non profit. The founding team is only 4 members. The transparency that this provides, also makes them very centralized and also seems a vulnerability for a privacy coin. This aspect can thus be viewed in a positive and negative light. Apparently this is a fork from something called Shadowcoin. Spectre did an ICO, but only raised 16 btc (at around $700 price), so that didn't bring them far, but they claim to have received private funding. Main innovations were supposed to be the TOR integration for the wallet plus the TOR obfuscation product. Beyond that something like anonymous staking algorithm which for a long period was doubted that they could even pull it off. However, apparently in the latest version since May 2019, this feature should finally be implemented. One aspect that does look a bit remarkable is that they changed their bitcointalk thread after a lot of FUD and negativity was being spread on the original thread. Now I can't determine if all or part of those opinions/discussion have any merit, but I would recommend to take a look and assess for yourself: https://bitcointalk.org/index.php?topic=2103301.2560. The team said that they opened the new thread because they were locked out of the old one for some reason. Note that they have introduced a taxation on the mining reward which is going to a developer fund. Upgrading to the new software version includes agreeing to this. Generally taxation on mining reward is considered 50/50 shady. Even though overall this project seems to be around for a longer period of time and being reasonably active (which is far more than probably 80-90% of all other small cap coins), which would give them some sort of credibility, I can see why some people are a bit suspicious too. Also beware that leading up to the new version release the price of XSPEC has gone up already substantially (and since release date already retracing somewhat), which could theoretically lead to a "sell the news" situation, so be careful with that too.review Spectrecoin
Game developers with a physical address that have created a specific Ethereum based Collectable Cards game, with an in-game currency Elementeum. There seem to be claims that they didn't raise any money to fund this project and are just offering their game items/currency for sale, however the whitepaper (not published on their official media, I had to Google to find it) clearly describes a pre sale offering. If indeed they deliver a functioning game (it appears not to be released yet: items store is empty apart from 2 items and the app that they provide a link for to the Playstore, doesn't lead to the app, which is not published), there seems nothing inherently wrong. However, I keep some reservations with regards to the token as long as the product has not fully launched yet. I am anywhere between lean legit and neutral upon reviewing this project but have to choose so I chose the more conservative rating. ***UPDATE*** There is now an app indeed available in the app store and there seem to be indications that they are self funded. So until proven otherwise (with regards to token sale investors refunds), I will give this project a little more benefit of the doubt.review Elementeum
Fork of a fork of a fork coin. Actually apparently it is a community takeover of a failed project that was based on PIVX. It is supposed to become some sort of gaming coin, however the available information (lacking any whitepaper) is very limited so the validity of the project development cannot be assessed on its merits. Website doesn't have security certificate either, which also is major red flag, so be careful when visiting their website. One positive thing: at least this project doesn't have an official "CEO" or anything like that in the team, because any project that does have one, can be guaranteed to be highly centralized, which this project probably still is, but just saying that I like the look of not having a CEO.review OASIS Coin
The only coin that you should hold on to and be careful not to lose in scams or by speculating/trading in shitcoins, like the many that are listed on this website. Do not get fooled by people that say that Bitcoin is slow, old fashioned or lagging development, because it is supposed to be that way in order to become the globally accepted hard money standard. It is the most secure store of value that anyone should have some of under their personal control (private keys), not only for speculation but also for the small but present danger of any type of catastrophic event that could hurt the normal financial system. Bitcoin is the only digital censorship resistant, permissionless, borderless, secure, unconfiscatable, gold-like store of value. Whatever other cryptocurrencies are doing has little or nothing to do with the purpose and position of Bitcoin, so it is pointless in comparing them with bitcoin. Be very very responsible with the bitcoin you have and make sure it is the major part of your crypto portfolio IF you decide to speculate on alts as well.review Bitcoin
Pretty much a confirmed scam. 2 team members, including CEO, are fake profiles: https://bitcointalk.org/index.php?topic=5046161.msg46695487#msg46695487. Project's Twitter account even suspended. I do not need more information than that tbh. Whitepaper pretty much confirms that there is nothing of added value in this project. Yet another ERC20 token scam.review Pipschain
CEO's Twitter account doesn't spark much confidence, he joined Feb 2018, which seems a rather short online presence and his 10 followers also isn't very convincing either. Speaking about Twitter, the project's Twitter account contains a Tweet containing #HODL and #Moon, which suggests hyping the token for price appreciation, which is also a red flag. I am also very suspicious about the blockchain usecase for CRM and looks like a very poor excuse to launch a token. Further more for some inexplicable reason they also plan to launch an exchange with the token as usecase, which doesn't make any sense at all in terms of their supposed "CRM" project. Just another ERC20 token combined with a website and whitepaper full of buzzwords to scam people out of their money, so it seems. They claim not to be doing an ICO, but they say they are going to sell their tokens on the website to fund the project, which is basically the same thing as doing a continuous ICO, so there is large misrepresentation there to say the least. Roadmap consists primarily of exchange listings, marketing and the earlier mentioned exchange; only somewhere down the line they would launch a mainnet. Not at all convinced about the validity of their supposed project and it all feels and tastes like your average ERC20 token scam and I wouldn't fall for it!review Projecton
This is really one of the worst sh*tcoins I have seen. Notably an ERC23 token instead of ERC20, but they don't offer anything more than a speculative token with no further utility besides using for payments, which every crypto token/coin on the planet can be used for. Their explanation why a limited token supply is better than higher supply is either deceptive or hopelessly ignorant. Pretty much their only focus is exchange listings and price appreciation. Their logic for not doing an ICO, because exchanges ask listing fees and they will go to them directly does not make any sense at all. And they basically say they will use the proceeds from the tokens that they are selling (in the open market I presume) to support the token price and volume, which also seems ridiculous. I will stay far away from this "lion king" of shady tokens.review Regium
The so called "big volume" and "10 times price increase" mentioned in another review are quite deceptive: big pump and dump on this exchange. Price has dropped back to zero and virtually no trading volume left. No buy orders in the order book, only sell orders. Literally worthless token. Then no visible team and no whitepaper. Github shows just 1 activity of file upload and nothing more. This must be a joke coin: it's some scary website that claims you need to pay one token to a wallet address to pass the river of Hades in the after life. Creepy coin would perhaps be a better name for this. This is just a joke pump and dump coin. Idk who bought this at the initial CREX listing, but they got rekt completely and if it were the team selling I guess they were able to suck away valuable satoshis from naive investors.review Haron Token
Looks like at least 1 of the brigade members here is also part of the brigade of the other shady project SperoCoin that I just reviewed (similarly of Brazilian origin), which automatically makes it super suspect. On top of that I agree with the statement: Brigade + no real token utility = stay away! The website and whitepaper fail to explain how this token's utility could be leveraged to save endangered animals. It is all just extreme fear mongering without providing a solution. Fundraising can be as easily, in fact easier, be done by just using bitcoin. No need for this BS coin. Oh and github also shows very low level activity. Don't be fooled, this garbage is waste of your time and money and not gonna help any animal, outside maybe the founders' pets if they have any. By the way the yearly inflation of the coin supply is 30%, which is a hell of an inflation.review Animality Coin
Be careful everyone, it looks very shady to me: no whitepaper to begin with and the bitcointalk forum topic that is linked with the project contains an announcement by bitcointalk admins warning about scammers: https://bitcointalk.org/index.php?topic=2260985.0. Be suspicious of the shillers among this project's reviews.review Sperocoin
Just as you thought things couldn't get any worse, then a project like Elitetreum comes along. The name alone should already make everybody real suspicious. No whitepaper, no team, focus on the promise of high investment returns, related to an organization that quite obviously seems a lot like a ponzi AND is clearly selling to investors by means of a multi level marketing program, which everybody should know, leads automatically to the worst confidence rating. I will not waste too many words here, because all you need to know, is already described above. These type of ICO's focus on crypto newbies or non crypto users, so that they will believe the "amazing opportunity" very easily, because they lack the basic knowledge that more advanced crypto investors have of judging a project. Any slightly advanced crypto investor would immediately reject this offer based on the above aspects alone. No further investigation required.
Project was shilled by Suppoman (and I believe Balina too), which immediately places it in a shady corner. The team however seems quite legit and I would not expect this to turn out to be an exit scam of anything in the sort either. Only github data is the crowdsale of the erc20 token and nothing more, which means either 2 things: nothing in terms of coding ever happened or this is a completely closed source project, which latter also doesn't add to credibility. With some pluses and some minuses I end up with a neutral score in this case tbh.review Zebi
Youtuber and crypto influencer Tone Vays did a lot of the research on this project. Even though he is a bitcoin maximalist and highly biased against any altcoin project, the facts he reveals alongside his not unusual salty opinions are still worth reading: https://twitter.com/ToneVays/status/1017917017532362754. Tokenpay was not exactly helping their own side of the argument by personally attacking mr. Vays by claiming he is an ICO shill (which he is the absolute opposite) and has been shilling Bitconnect. Their examples were an obviously intended sarcastic Tweet and a parody video (which apparently they didn't bother to check first). Their reactions were extremely unprofessional and seemed to suggest their complete lack of knowledge in the space. Which legitimately raised red flags in and out of itself.
Aims to be THE Asian cryptocurrency, but it is first and foremost an ERC20 token and most of the promised advantages of Asian Dragon are already inherent to Ethereum and any other ERC20 token. So the only special thing would be its name and marketing, other than that, nothing of inherent value to make me believe that, according to the whitepaper, the value of the token would become on par with all major Asian fiat currencies (disguised promise of unrealistic price increase) within 5(!) years!
I would go a little further with the judgment on this project. Literally the only thing they did in crypto was issuing the erc20 token for the token sale. After that nothing has been done, so it seems more to me that the company has mislead investors to believe they were investing in the cryptocurrency pivot, while it seems to have been nothing more than ordinary money grab. Since early Jan 2019 their Twitter has been quiet too and the fact that their site went down seems to suggest that the project is abandoned. I wouldn't call it literally an exit scam, but it is close enough to it. I am sorry for the bagholders, but it looks like a miracle has to occur for this to turn around for the better, on the scale of probabilities.review InvestFeed
Already exit scammed ponzi pyramid! Some magical binary option trader (binary options is huge red flag), Steven Twain, that would produce 14% weekly profits for investors (unrealistic profits: giant red flag #2) and they operated a pyramid scheme promotion plan of up to 5 levels (Multi Level Marketing / pyramid selling = red flag #3). Site is down, people can' withdraw funds anymore. Confirmed scam, full stop!review BTC Global
I wouldn't call the previous review a review, but more promotion of this project, so don't put to much weight into the given rating. I am just gonna say that even though I have a hard time believing in the success of this ZEON coin, which is a GPU miners and masternodes focussed coin, everyone is ofcourse free to launch their own open source coin. However they claim to be a coin that takes the positives of cryptocurrencies and solving the negatives (among which the flawed conception of energy "waste" of PoW mining). Eventhough there is more than enough technical specifications available, a whitepaper that clearly explains how this project is so unique and worthy to spend money on for mining or masternodes, is not provided. They did a small pre-mine, but for the rest they aren't doing an ICO, they say. There are wallets available and they even have there own (zero liquidity) exchange, where trading pairs are provide for their coin against bitcoin and litecoin (and 2 more coins). Github activity is low, though there is some activity at least, which is more than I can say of many other projects that I have seen passing by. Team on the website exists of 2 individuals, 1 with visibility, so assume for now a highly centralized situation.
Somehow scam coin projects think it is a good idea to list their project here! Well, I guess that if you believe that even bad advertisement is still advertisement, then I guess they have a point! So onto my personal opinion about this scam coin, because yes, I do believe this is another one of thousands of scam coin vaporware. Has a lot of similarities with Wixlar actually, one of those is the claim and promise of a credit card in Q1 2019, well I wouldn't hold my breath and to me the projects (with a few minor exceptions, but broadly speaking) that claim they will offer credit cards are highly highly suspicious!
Ridiculous ERC20 token with no innovation whatsoever and sold to the public as technological improvement compared to Bitcoin, piggybagging on Ethereum.
I have mixed feelings about this project tbh. On the one hand it looks like the typical suspicious HYIP "AI" trading bot which I would immediately reward with the highest red flag rating available! However this project has some interesting deviations from the usual ponzi trading bot scammer schemes, which makes me wanna give them the benefit of the doubt perhaps.
- existing reasonable whitepaper
- reasonably fair ICO
- Visible, existing team
- available information is very extensive and transparent; besides the given profit projections, they do give a reasonable disclaimer on their website support documents: "Dropil is not a lending platform and shares no common grounds with these models. There is no hold period on your funds â€“ you may withdraw them at any time, and incur no fees. We do not guarantee any specific returns. This is, after all, trading and it cannot ever be 100% certain. A strong full-time trader will be able to beat an algorithm trader most of the time, and any bot claimed to always be better is suspect. Dex System is not for the top 5% of traders, they donâ€™t need it, our product is for the rest of the population that does not have time, skills, or interest in full-time trading but still wants the benefits of active, profitable trading." Ok, fair enough.
- Indeed they don't sell any "packages" with lock up periods, in fact your principal (deposit) can be withdrawn at anytime; only realized profits need to have been in the system at least 15 days, or else will be forfeited on withdrawal of principal.
- they claim that their services (such as the available bots) are free to use, the only requirement is that you HODL the token in their wallet, which is definitely a divergent method from most existing legit and scammy (bot) services. Premium services may be at a cost in DROP.
- The given locked up founder tokens addresses are indeed in tact (late March19), first address is due for unlocking March19, wallet balance still there, but holders should be aware that the circulating supply may increase substantially in the short term)
- Their 3 types of bots seem interesting to explore: their automated AI DEX bot runs a pool of funds from all participants compiled (only this tool would fall in the category of being potentially suspicious), there is another bot that just monitors exchanges and generates signals and another bot soon to release that can autotrade on the user's own exchange accounts (user control his own funds, so virtually no risk of Dropil team exit scam).
- They do make a claim of projected high potential profits of 1-2% per month up to 4-5% per month, although they do make a proper disclaimer about that.
- This whole project is completely closed source, only the Dropil token contract is published on Github
- They only have an online wallet that serve to interact with the services, which I would argue is not the safest way to store larger amounts of funds, it is a very hot wallet! Recovery code sent per email and private keys per wallet are easily shown on screen. Also when the server/domain etc goes down, you won't have access to any of the stored funds, so make sure you do back up each and every private key in a safe manner. A DROP HODL-er that doesn't use any of the services of Dropil, is probably better off with a more secure Ethereum wallet, although Dropil also provides an online multicurrency paper wallet generator.
Well, this should have the shadiest award of the year impo! Just doubling down on Bitconnect! Maybe not a coin yet, but that may still be coming along further down the road (USI Tech also launched their coin much later, in the last stage of the scam). Copy paste MLM & ponzi scheme blueprint!review Doubly
That awful name already.....please people be very careful with your money, because you will loose it lightning fast with all the scam coins that pop out the ground and this has the usual hallmarks too. Why is every Nigerian Prince and the like launching his own coin? because greedy noobs are too easy to scam, so you can't hardly blame them for trying! Anyone that invested in this, I fear the worst, but it seems that the founders are now on a tropical beach drinking cocktails!review Modern Finance Chain
Although the website might be useful and is apparently a working product, I do still wonder about the cryptocurrency usecase for the Yelp on the blockchain. Other than that: no whitepaper, no information about coin supply metrics, coin distribution, I cannot find an explorer for this coin. Furthermore........for this coin to gain any value, there need to be people that want to BUY this coin too, so why would anyone want to buy this coin? So if anyone is considering to actually buy this coin, buyer beware and ask the hard questions!review BravoCoin
hmmm yes, vetted gives it at least some level of credibility however, most of that vetting doesn't go much further than ID verification and seeing if there is plagiarism in code or whitepaper, which for this project doesn't seem to be the case, so that is a good sign.
- per general crypto community standards pre mine and block reward fees are by default a shady practice (this is however without regard for its application)
- for a project that truly tries to bring a cryptocurrency for the world, the Github activity seems to be underwhelming the last few months.
- there seems to be 2 coin system with a stable bitcash dollar that would protect the value of your coins in your wallet. However, in the whitepaper it is not explained at all how that technically works and influences the supply of coins. Somehow you would just get the double amount of Bitcash for your bitcash dollars if the dollar value of bitcash dropped by 50%. No explanation on where those coins are coming from and how that works in economical sense. Seems wishful thinking to me.
This is supposed to be a privacy coin for gaming platform (that is supposed to be built), not even sure why that is needed for gaming. It is a coin with 4% pre-mine. Code is largely forked from other protocols, so innovative it can't hardly be. There is something of a whitepaper though (although it says it is just a part of it). Not much information yet around, considering the short existence, but my gut feeling is that it is going nowhere and will be short lived more than likely. However I will keep my vote semi-neutral due to the lack of information available and short period of existence. Just trying to be fair here.review Zent Cash
Yup indeed, this is yet another guy printing his own money. Besides that, consensus algorithm is not gonna decide future code improvements proposed by community, these will be ultimately decided by the dev "team". No whitepaper, no actual details, sorry I am not liking this yet another "better than bitcoin" attempt with no value whatsoever. On the other hand I also don't think the founder is trying to intentially steal money from investors, so I won't be too condemning either.review Slicecoin
This is the Dibcoin that is mentioned in another review about RXsmartcoffee (link can be found on their github). In 2017 was the last activity on github. Apparently this is supposed to be some security token that should be used to acquire penny stock companies. Completely illegal security as far as I can see. Strangely enough you can read on their website about the suspension that one of the companies behind this received by the SEC. Furthermore another article is posted about some major "hack" that occured (smells a lot like the exit strategy, haven't seen the fire, but there is a lot of smoke). According to the article the "hack" resulted in a major dump on exchanges. It is my guess this shady project is already in or after the final stages of termination.review DIBCOIN
Bitconnect but without MLM program. Just your average "lending" ("staking") platform and of course they have a trading bot that generates all the profits. No team, no whitepaper, so this smells so much to Bitconnect and its companions that any informed crypto investor should know well to avoid. Call themselves NovaChain, however, don't be fooled, the token is just another useless erc20 token. If I read the experience from another review here, it all says enough about the sort of platform that it is. Also you can read another review on medium here: https://medium.com/@manyblogstocome123/novachain-lending-platform-review-fc7625ffbfb6review NovaChain
Formerly known as Ryo coin, but now rebranded to RYA coin, whatever the reason (in the whitepaper it is still called RYO though). Last development on github seems to have been 2 years ago, because the updates that were done 2-5 months ago, seem to be related with the rebranding. The blockchain is a clone of nxt blockchain, and a clone kit is used to launch it.
One would not have to do any research other than just looking at the name, take notice and move along to other stuff. So this is the roadmap as published on their bitcointalk page:
Again, posted by a profile that obviously is linked to the project, and has shared the project posting here on their own Twitter. Well, I hope my review won't spoil the party then.
No wonder that someone with the profile name ODEX is going to post a positive review about this project, smells a lot like conflict of interest and certainly not unbiased.
Obtaining first on chain gambling license (from Curacao), being already very successful and having paid out house profits already, it seems quite a legit platform tbh. The house has no edge, 100% of house profits paid out to BET token holders. Interesting detail: there currently is no ICO, but an airdrop to those that bet with EOS (either winning or losing bets) will get BET token, which would entitle to dividend payouts. Interesting model that would encourage funding as well adoption. The obtained license makes me assume there isn't anything inherently shady going on. The platform's initial traction and dividend model seems to indicate a reasonable profitable investment expectation if the eventual token price is fair in relation to expected future profits.review EOSBet
Corporate version of MimbleWimble. The fact that there is a CEO, in this type of protocol it is immediately a grade shadier. Considering its origin as a grassroots protocol which is better represented in Grin, my personal preference is not Beam, however I do not consider them scammy shady either. Beware there is a 20% "tax" on the mining reward which goes to funding of the project, similar to the ZCash funding model, which is criticized a lot as a model within a large part of the crypto space. Because of its presumably better funding, dedicated team and commercial approach, this might theoretically and probabilisticly turn out to be better for speculators.review Beam
Too bad it's an altcoin, would have loved to see this implemented directly onto bitcoin, perhaps as sidechain, but still this MimbleWimble technology could be a very important progress for crypto. Because this coin has a very similar grassroots development as bitcoin did and thus no premining, no airdrops, no ICO, A lot of backing from bitcoin developers too I def prefer Grin over its corporate version Beam. Developers receive donations for the project, which seems fair enough. Not easily available yet on exchanges so there is an improvement point, but that is probably bc this project is inherently not so well funded that it can afford listing fees which impo they shouldn't pay anyway. Maybe not the easy gains speculators coin, but long term fundamental perspective looks very promising. One of the very few projects that honestly deserve the not shady at all rating from my point of viewreview Grin
Atonomi is one of those projects of which there are so many in crypto! Maybe it didn't immediately start out as a scam, eventually due to mismanagement, wrong people in the team, virtually no accountability etc etc, projects die and money is just being taken out and used for other purposes. Before anyone finds out, the coin may even appear alive to the majority of bag holders while in fact they believe for the longest time in a dead coin and this one is no different. The story confirms it, Github confirms it and the price, well the price.....review Atonomi
Yes it finally happened and many already predicted it since Jamie Dimon bashed Bitcoin so hard, they are now issuing their own stable coin based on the US dollar, to facilitate interbank transactions and could bypass SWIFT! (Sounds like trouble for XRP, competition wise) However the coin also means another layer of risk and uncertainty on an already questionable currency (USD). It doesn't look like the average crypto investor is going to deal with this directly, so we won't have to worry about it. However the scam that Jamie is pulling off by vocally delegitimizing the crypto world, while simultanelously buying in big time and launching its own coin, is really very very shady business! Aka Jamie's Shitcoin lolreview JP Morgan Coin
Honestly, eventhough I did not thoroughly researched this project, from the outside it looks pretty legit and innovative. A member of the European Parliament is an adviser and one of the interesting things is that with the tokens you can acquire a franchise which makes the token holder an energy company. This way one can earn extra money in that business opportunity. I think for anyone interested in blockchain/cryptocurrency in the energy market this is certainly a project that is worth further investigation, if this project really takes off, the token could potentially be a real gem, considering its relative low valuation, but beware the extreme low volume.review Restart Energy
Chinese project from the NEO umbrella, as far as I know, and thus NOT Ethereum related (like is erroneously mentioned in the project profile details), I believe. Besides that, they have their own blockchain and so ONT is a native coin. According to their own words: "A new high-performance public multi-chain project & A distributed trust collaboration platform". The project is very high tech with a lot of different applications. And they have recently introduced a sharding implementation appearantly. One thing that definitely speaks for them is that their ICO consisted of various airdrops, so unless I missed something, tokens weren't for sale. There is one concern, however, which might be largely related to the airdrops, however i couldn't really find out when most of the airdrops occurred. It seems the team has a large control of the token supply, however I couldn't yet find precise details on that either. At the All Time High of ONT (around May 2018) the circulating supply was around 112.5m coins, while total supply is 1billion coins. At the height of the second rally of ONT in June 2018, the circulating supply was only increased to 151m coins. After that ONT got into a huge correction till mid Aug2018 where the supply didn't really change. By now (mid Feb2019) the circulating supply has increased to 325m ONT, which is more than a 100% inflation/dilution! So I don't know the real reason behind this, but from the outside this doesn't look really well in terms of investor perspective. It did rank #4 on the blockchain innovation ranking by the chinese governmental research institute (CCID I believe), so that should hypothetically mean that Chinese researchers qualify this project as legit and innovative. Based on the dilution issue I am though hoovering between shady and slightly shady, but will give it the benefit of the doubt, based on their high chinese index ranking and the possibility (that I am not aware of) of a legit explanation for the high coin dilution for which they might have been transparent about (for example if it was part of the scheduled airdrop program).review Ontology
Finally something that sparks my interest in a major way! The fact that Ivanontech is an advisor is for me a huge factor in terms of credibility of the project and I also agree a lot that the issue with DEXs needs to be improved urgently! The coin that is supposed to be issued is will be part of the process of making the exchange more privacy oriented. I am super excited about this exchange and I hope it will succeed wholeheartedly. My concern is how the team will protect itself from government interference like for example Etherdelta got in trouble for; I hope they are addressing this issue, bc I didn't have time to find this specific issue out. They are going to do an ICO, If I would invest in this ICO i would NOT do it for profit potential (no idea if there is or isn't a profit potential with their ICO token), I would invest because I want the exchange built and be successful to improve the whole crypto ecosystem! Ivan's endorsement will make a big difference I believe!review Resistance DEX
I don't even know where to start with this one: it seems to have been formerly known as potion owl, website now leads to Yazom. ZOM token details nowhere to be found, not listed on CMC. ICO was supposedly in March and May 2018. Github activity: as good as nothing. Interesting detail: potion owl used the same logo (different colors) as Spectre.ai, interestingly enough. If you click on "Publication" on their website, it leads to their medium, which has no publications. So I don't know what this platform is doing, besides posting health care industry tweets. Because I stopped looking for more red flags that are likely to be found to come to a super shady rating, I just stopped researching and keep the rating at "only" very shady. UPDATE:Clarifying my initially submitted review: it is true that besides what I was able to find, there might be positive information to be found, but that should be a lot easier, because from the outside it looks very bad, and my research process is that whenever I find a certain amount of red flags and/or things that just don't seem right, that will be reflected in the rating. I already gave it the benefit of the doubt by not giving it the lowest rating.review Yazom
***Update: beware!! It seems Bitconnect2.0 is launching, weirdly enough! Not sure if it is real or a joke, but either way, stay clear!*** Yup good warning sign: do not touch HYIP, lending/staking coins and mulitlevel marketing program schemes in crypto! BCC is now confirmed scam and officially dead coin! Bitconnect wasn't the first and probably not the last in cryptocurrency space, because even after decades of these kinds of scams people still have a hard time to learn. And indeed, very hard to convince the believers about the obvious truth. And when it does collapse, they start pointing fingers and not take responsibility for themselves. Very toxic for the crypto space and a big relief that they and many of the other big ones have disappeared. One positive thing about the bear market: it does seem to keep the big scams away as well.review Bitconnect
Socios.com does have a partnership with Paris Saint Germain and Juventus already, so it seems! They claim not to be competing with the existing eco system, rather adding to the fan engagement. And sports fans are quite committed to their teams, so any club specific tokens that give rights in the decision making process of their team, I could totally see that be a huge thing. Same as crypto space, sports is also a space fueled by tribalism, so they do fit well together. Good point that they didn't raise money from retail investors. Overall I can see this project become successful because it looks pretty clever. The CHZ coin is Proof of Authority so imo far removed from the purpose of cryptocurrency, not even sure if the CHZ token is even needed as functional component. Which leads to the next question, why is it not even on coinmarketcap? is it even listed on any exchange at all? Once again, looks like a cool, legit project, I do not believe it is a scam at all acually, but because I have some concern about the coin's validity as cryptocurrency and therefore its underlying value for an investor (if it even ever becomes available to trade), I would need more refined research tbh. That's why I also can't give it the highest score, although I was tempted in all honesty.review Chiliz
Am I mistaken somehow? I checked out Github on this project. Apart from the criticism that I read from some of the other reviews, criticisms that I share, I would like to add, that I almost don't see any activity, especially lately, on Github. Added to that no trading volume and barely listed on exchanges (just 1), this seems a pretty dead coin to me.review Divi
John McAfee seems to be the living red flag of Crypto! And this seems to be no exception! Cheap copycat of NXT and I am even wondering if NXT itself is a viable investment, let alone its cheap copycat. To be fair, I don't know all the ins and outs of this project (which is why I won't be too hard in my rating), but like already mentioned: McAfee's involvement is all you need to know lol!review Apollo Currency
So apparently Cryptopia has been hacked too (since mid Jan 2019)? The New Zealand police seems to be investigating the exchange about this. Interestingly enough according to their own explanation of events happening, they have frozen the XTRABYTES wallet of Cryptopia, waiting until the exchange comes back online again and what comes out the investigation. Up until the day of writing this review, Cryptopia is still offline. Shady business going on both ends so it seems.review XTRABYTES
I read the previous review and I kinda agree with most of that to be honest! My natural caution makes me a bit nervous about those speculative gains, but of course I could be wrong and there is some real value anyway. I would like to see some results on the interoperability front because indeed so many are already doing that. Because of this me too character of the project I am going to deduct a few points, really wanna see some real results from any of these types of projects first before I believe any of these aren't just money grabs.review Quant
Not a blockchain but also not an intentional scam impo. Might become something in the future but all is still highly speculative. It is one of the best performing assets in this bear market though, so there's that (that could also mean that at the time of writing it is already overpriced, no way of really knowing though, but most of the gains are already behind probably)review Holochain
Bunch of greedy people trying to print and control their own money. Value proposition is totally unclear in what it supposedly improves on the real bitcoin. Just adds to the confusion among newbies and people that think they can get rich on a cheap new bitcoin. Forked off bitcoin during the fork rush. Lost 99% of its value, is acting pretty dead now.review Bitcoin Diamond
First they said: it wasn't a 51% attack, but just miners testing or what not. then they suddenly said wait for like 400 confirmations. Seems like this project can't be taken seriously much longer, although I did find their position with the DAO attack (which created ETC, or actually kept the original chain alive) more aligned with basic principal of crypto. However, unfortunately this project seems to be as good as dead, unless anyone can point out any major developments. Remarkably the price didn't move that much after the attack; so I guess nobody even cared enough to panic sell lol.review Ethereum Classic
Sold out in 7 minutes their ICO. Seems like the only function of the PAY token was to raise the company funding. They did ship the promised cards, but because the card provider was blocked by VISA, their cards became useless. Many promises of new cards coming, yet not delivered. This has frustrated a lot of investors and indeed this is not a positive sign. Julian Hosp as leader and spokesperson for TenX has been discovered as an active promoter of an alleged pyramid scheme Lyoness, however he has openly distanced itself from it and claims it was a good learning experience to guard against scams in the crypto world. I would give him the benefit of the doubt; it would have been much worse if he was from Lyoness management. One of the technical projects that TenX develops on is COMIT Network that should allow for cross chain transactions, and recently there has been the first success: "At the December 7, 2018, TenX Summit, a group of developers showcased an industry first: an atomic swap on the Lightning Network between a non-native asset, TenXâ€™s PAY token, and a native asset, bitcoin." (quote from bitcoin magazine). Overall I think TenX is one of the more legit projects out there, but considering the disappointments from the past year since ICO, I have just a few tiny reservations about it, which is why i vote this as slightly shady.review TenX
Very well orchestrated scam which they made seem very plausible with even a working MVP demonstration. However it had red flags all over the place, for example on their website you could calculate your profits from assumed mining rewards. It was a pretty obvious money grab and quite shortly after the ICO ended the team practically disappeared for months and after that they came out with the story of an internal dispute between the CEO and the founders. Hard to say who scammed who exactly in this whole drama, but the result is that I donâ€™t see investors getting any return on their investment; I am even surprised the token price has â€śonlyâ€ť dropped 95% from ICO price, as most coins have in this bear market, so it isnâ€™t even that remarkable of a decline.review Envion
They tried to bank on the marihuana legalization hype, which also created a lot of frenzy in the penny stock market. I do believe this project is one of the lesser shady ones from all the other cannabis coins, still I am quite skeptical. If they indeed paid their investors back, then that seems at least if they are not willingly trying to scam people and as long as the project is still alive, they might actually try to deliver some sort of product. I would then not consider it a scam; if it is going to be a successful startup and be profitable for coin investors, is an entirely different matterreview Paragon
another shady company printing their own money and giving themselves the most of it. They were able to hype their coin a lot with their referral program, which created tons of shillers poluting the crypto social media! I don't see any reason for this completely centralized coin to succeed. Vaporware 2.0review Electroneum
I don't know a lot about this project because I honestly don't care! But the fact that this is apparently shillers' wet dream, I will have to assume that it employs shady marketing tactics to create artificial hype and demand for this shitcoin. By default I don't trust any coin that is being shilled too much!review Zilliqa
Not a cryptocurrency at all. Totally not censorship resistant, centrally controlled, 80% of the supply in hands of company, shady marketing tactics with hype tweets to lure noob investors in buying tokens they were floating in the market during bull market. Itâ€™s more like an anti-cryptocurrency, nothing more than a google spreadsheet. Their company may sell some utility of their technology to the banking industry and if investors are lucky the company will assign some utility to the XRP token, but honestly itâ€™s nothing more than an illegal security that has no place in coinmarketcap. Buyer beware!review Ripple
Yet another team that tries to hitch-hike on the bitcoin brand and print its own money. Trying to re-organize the code and even wants to redistribute Satoshiâ€™s coins, there you go immutable, censorship resistant blockchain. If you want to build your scammy shitcoin, at least have the decency to not abuse the name and reputation of bitcoin. Wish it burns to the ground. If they have developed anything groundbreaking in terms of improving privacy for bitcoin, I am sure if it is really that good, it will someday be adopted by the real bitcoin, rendering this piece of garbage useless.review Bitcoin Private
It started with a jokeâ€¦. But it became serious business. Eventhough the founder of Doge is perceived to be a shady figure, the Doge has a substantial track record and a large, loyal following. Although Doge is not the most serious project, I wouldnâ€™t personally qualify it as a scam tbh, certainly not on the scale at which real scams are infecting the crypto space. Not a scam at all in my eyes, but I wouldnâ€™t invest my life savings in it either. Just my 2 sats.review Dogecoin
Eventhough Bitcoin SV is a hardfork of a hardfork (bitcoincash) of Bitcoin and the protocol is actually the closest to the original whitepaper of all existing bitcoin forks out there, you should be aware that one of the most vilified people by the cryptocommunities (Craig Wright is also known as Fake Satoshi, because he identified as he the â€śrealâ€ť Satoshi, which he then couldnâ€™t prove; since then most people regard him as a scammer), is in leading charge of this coin. Also the mining power is far over 51% in the hands of 1 entity, so it is a fully centralized coin. I do not trust this Bitcoin/Bitcoin Cash fork for 1 single BIT. And then that super ridiculous logo....pretty sure that ISN'T "Satoshi's Vision" at all!review Bitcoin SV
Super centralized project with slick marketing CEO Justin Sun. It's all about hype and moon talk about the price. In the development phase they have been caught plagiarizing their whitepaper and source code (without proper citations). Tron is all about making Justin Sun very rich, not necessarily token holders. So I wouldnâ€™t say they are an outright scam because they do work to make an eco system around the Tron token, but they do prey an awful lot on unknowing investors imo.review TRON
According to Nouriel Roubini: "an illegal cartel of service providers who are safe from price competition and in a position to gouge their customers. Dentacoin is a ridiculous cryptocurrency that can be spent only on dental services (and which almost no dentist actually accepts). It would be hard to come up with a better illustration of why business cartels are illegal in all civilized countries. Of course, the crypto-cartels would counter that customers who incur the cost of buying a token will benefit if that token appreciates in value. But this makes no sense. If the price of the token rises above the market value of the good or service being provided, then no one would buy the token. The only plausible reason for forcing the use of a token, then, is to hike prices or bilk investors."review Dentacoin